- Apr 30th 2009 at 5:33PM
REPORT: Honda to invest in Pioneer electronics
In spite of Honda's $2.91 billion Q1 loss, the Japanese marque knows the investment show must go on, and it's reported to be finalizing a stake in Pioneer. The Japanese electronics maker is shutting down its home electronics division, which has been losing money for years, in order to focus on in-car electronics. After approaching Honda to inquire about a tie-up, Honda is looking to put several billion yen into the company for around a 5% stake (a billion yen is about $10 million U.S.). With in-car electronics a key component in the current automobile revolution, it could be very handy for Honda to have the inside track on developing proprietary systems with an electronics expert, especially if it can use that to maintain an advantage over other Pioneer-equipped OEMs.